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Old 09-25-2002, 03:59 AM   #1
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U.S. Air Carriers Plead for Billions

Struggling U.S. Air Carriers Plead for Billions in New Government Aid

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WASHINGTON -- Struggling U.S. air carriers received sympathy and promises of aid from lawmakers, but growing budget pressures may make it impossible for the government to help, Wednesday's Wall Street Journal reported.
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Although most lawmakers expressed sympathy for the airlines' plight, indicating they would try to help offset the huge expenses the airlines have incurred for new government-mandated security measures, the subcommittee seemed uneasy about the prospect of extending a second round of aid to the industry. Following the attacks, lawmakers quickly passed a $5 billion cash infusion designed to offset losses stemming from a temporary shutdown of the nation's air space and created a $10 billion loan-guarantee fund.
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Old 09-25-2002, 04:00 AM   #2
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Airline stocks test new lows amid call for help, war fears

Airline stocks test new lows amid call for help, war fears

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That coupled with ongoing fears of an attack against Iraq - a move industry executives said would maim travel while hiking fuel costs - hauled a load of uncertainty on the sector's main measure. Moving down in its ninth straight trading session, the Amex Airline Index tested new lows - and kept doing it after the Federal Reserve decision to leave interest rates unchanged with a negative bias.
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Also Tuesday, long time industry analyst Ray Neidl finally initiated coverage of the top six carriers for Blaylock Partners with "hold" and "sell" ratings.
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